Australian growth looks promising
(28 January 2010 – Australia) The International Monetary Fund’s latest World Economic Outlook has predicted that Australia will do better than previously expected over the coming two years.
The report reveals that Australia is set to continue as one of the world’s strongest economic performers, with forecasted growth of 2.5 percent this year and a 3 rise in 2011.
The news is welcomed, as in October the IMF only predicted an increase of 2 percent.
The IMF also said that the global economy is recovering faster than expected and will reach 3.9 percent this year; before continuing to rise by a further 4.3 percent in 2011.
The international agency said that an ‘extraordinary’ amount of policy stimulus was driving the global recovery.
A key risk is that a premature and incoherent exit from supportive policies may undermine global growth and its rebalancing, the IMF added.
The IMF called for a gradual unwinding of financial sector support measures and for policymakers to ‘move boldly’ to reform the financial sector at the heart of the global downturn.
The news is welcomed, as in October the IMF only predicted an increase of 2 percent.
The IMF also said that the global economy is recovering faster than expected and will reach 3.9 percent this year; before continuing to rise by a further 4.3 percent in 2011.
The international agency said that an ‘extraordinary’ amount of policy stimulus was driving the global recovery.
A key risk is that a premature and incoherent exit from supportive policies may undermine global growth and its rebalancing, the IMF added.
The IMF called for a gradual unwinding of financial sector support measures and for policymakers to ‘move boldly’ to reform the financial sector at the heart of the global downturn.
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